Money Saving Tips for January

We asked our panel to share the money saving tips that helped them recover from the expensive Christmas period. Many find it hard to bounce back, having overspent over December so we asked our panel what measures they take to make January a more comfortable month.

Many of the panel proved to be very organised with their finances.

“The way that I make sure I’m not strapped for cash in January is preparation, preparation, preparation. I buy presents throughout the year when the sales are on in the summer.” (Janine, 35, Chorley)

These panel members felt that forward planning and budgeting throughout the year was a guaranteed way to ensure that there was enough money left over for January.

“I’m quite organised with my finances so it’s not too bad.” (Tim, 48, Bangor)

These panel members also made sure they only spent what they could afford at Christmas. Some also bought products that were on offer over the Christmas period so that they wouldn’t have to visit the shops too often over January.

“Basically don’ t spend what you haven’t got. Don’t buy things on credit, I will only buy what I can afford at Christmas.” (Elizabeth, 32, Sherborne)

“When I’m trying to save money and know I haven’t got enough like in January I normally work out exactly how much I have spare for the whole month and work it out on a day by day basis.” (Francesa, 25, Harpenden)

“Me and my husband have prepared for January this year, it’s the first year we’ve done it, we’re normally skint in January but in December when we got paid we went and bought everything in multipacks…we also stored up a lot of freezer food to try and make sure we don’t have to go to the shops too much in January.” (Louise, 31, Gravesend)

Another way to save money throughout January was to give up drinking and to go out less. A number of our panel members found that participating in dry January, not only gave their liver a much needed rest after the Christmas break but also helped them to save money.

“I guess I’m like quite a lot of other people in January I don’t drink which means I save money and I also raise money for charity and I definitely don’t go out as much which saves me money.” (Rachel, 32, North Walsham)